The Marcolin Group announced a new joint venture in the Middle East with its former exclusive distributor in the region, the Rivoli Group, which is one of the largest retailers of luxury products in the Middle East. Marcolin will have a controlling stake of 51 percent in the joint venture, based in Dubai.
The Rivoli Group also manages the distribution of Cartier eyewear in the Middle East. It has a chain of high-end optical stores, called EyeZone, which is set to grow to 35 units by the end of this year, most of them located in the United Arab Emirates, plus others in Oman and Qatar. They also sell Dior and other brands supplied by other companies.
According to GfK, the optical market in the Middle East and North Africa is worth $2.67 billion a year, and it is expected to grow significantly, in spite of recent economic problems, because of a growing and ageing population.